
“With the ongoing cost of living crisis, in 2023, both sides of the market will have to zero in on their user acquisition strategy, with innovative functionality and smart marketing techniques to attract and retain users.”īut not all legacy banks are winning this battle. “Legacy banks’ gains point to the fact that they are steadily adding new younger customers or converting existing customers to mobile banking," he says. With the ongoing cost of living crisis both sides of the market will have to zero in on their user acquisition strategyĪlthough legacy banks have a larger general market share than neobanks to begin with, this growth shows that they've not grown stale in customers' eyes, says Silvio Peruci, managing director at App Radar.
